DC Advisory advised LDC on the acquisition of British Waterways Marinas Limited

Background

• British Waterways Marinas Limited (BWML) is the UK's largest inland marina business providing over 2,500 leisure and residential berths to all types of waterborne craft
• Across its 18 locations, BWML offers a wide range of mooring services including chandlery, maintenance and repair works
• BWML was set up by British Waterways (the forerunner to Canal & River Trust - CRT) in 2004 as an ‘arms-length’ trading subsidiary whose purpose is to run and maintain all the marinas in its network for customers

Process

• DC Advisory (DC) was engaged by LDC to provide M&A advice on the transaction
• DC ran a focused M&A process engaging across a number of detailed work streams, including: valuation, due diligence, financial modelling and process management

  Outcome

• On 17 December 2018, LDC announced its investment in BWML, backing its existing management team
• DC ensured all M&A work streams were successfully completed within a tight timeframe
• This investment will enable the business to open new marinas and extend the number of moorings offered to customers, as well as providing further backing for strategic acquisitions

We are delighted to have advised LDC on this deal. BWML is a highly attractive business in a fragmented market. This transaction further enhances our credentials in the travel and leisure sector.